Jefferies Lowers Price Target on SS&C Technologies (NASDAQ: SSNC), Organic Growth Decelerating

Jefferies is maintaining its Buy rating on shares of SS&C Technologies Holdings, Inc. (NASDAQ: SSNC), but is lowering its price target by $2 to $22 following its Q2 results.

The company released its Q2 results with $91.8 million in revenue and EPS of $0.26, which fell inline with the Street and firm's estimates.

Management highlighted that recent uncertainty and layoffs have created some deal slippage, but notes the pipeline on license deals remains intact. The company is expecting it to revert to the normal $5.5-7 million range in Q3.

SSNC issued its Q3 guidance with a revenue range of $93.5-$95 million and an adjusted net income range of $21.6-$22.1 million, inline with the Street's expectations.

The firms current 2011 EPS and revenue estimates are $1.05 and $371.7 million, while its 2012 estimates are $1.15 and $402.2 million.

For more ratings news on SS&C Technologies Holdings, Inc. click here and for the rating history of SS&C Technologies Holdings, Inc. click here.

Shares of SS&C Technologies Holdings, Inc. closed at $18.85 yesterday.

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